The surge in IPOs on domestic markets is a win for Chinese policy makers and local investment banks.
CNOOC and Deloitte officials at CNOOC's Shanghai Stock Exchange listing ceremony, April 21, 2022. Credit: Deloitte
Chinese companies are dominating the global market for initial public offerings, as listings in the West continue to drag in 2023. So far this year, new Chinese flotations have raised almost five times as much money as those in the United States.
For China’s policymakers, that’s good news. Beijing has sought to encourage private companies — particularly those in strategic sectors — to pursue IPOs at home, while at the same time making it harder for them to list abroad. Data
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